So I took the plunge and went to my bank to see about qualifying for a loan. credit scores pulled were 620, 636, and 650. I had two derrogatory things on my account. One being as Ive said before an old capital one collection that was scheduled for DOFD last year but apparently never have. I cant pull my free reports again until tomorrow to try and figure out why it never has..I owe 1,700 on that. I also have a 1,900 installment loan out that I pay on time. on myfico report it said it looked bad because it is a place known for giving loans to people with not so great credit. I havent had a late payment on anything for over 6 years. have had the same job for 11 years. Perhaps what is hurting me is that I currently have no credit cards or anything?
So anyway, sorry to ramble. I go to the bank, and they turned me down. Told me to try another specific bank in town. I have an appointment on Monday. After turning me down, I asked if paying these 2 bad things off would make a difference, and the loan officer told me no. How could this be?? Thanks in advance
@Anonymous wrote:So I took the plunge and went to my bank to see about qualifying for a loan. credit scores pulled were 620, 636, and 650. I had two derrogatory things on my account. One being as Ive said before an old capital one collection that was scheduled for DOFD last year but apparently never have. I'm not sure what you mean here. Is this scheduled to drop off soon based on DOFD? Can you explain further?
I cant pull my free reports again until tomorrow to try and figure out why it never has..I owe 1,700 on that. I also have a 1,900 installment loan out that I pay on time. on myfico report it said it looked bad because it is a place known for giving loans to people with not so great credit. I havent had a late payment on anything for over 6 years. have had the same job for 11 years. Perhaps what is hurting me is that I currently have no credit cards or anything? FICO does like to see a mix of credit. Having a few CC's would probably help but that would mean inquiries and small dings to your score for them and having new accounts. But sometimes you have to take that first step.
So anyway, sorry to ramble. I go to the bank, and they turned me down. Told me to try another specific bank in town. I have an appointment on Monday. After turning me down, I asked if paying these 2 bad things off would make a difference, and the loan officer told me no. How could this be?? Just paying off a collection will not reduce the damage it is causing.
Thanks in advance
@Anonymous wrote:So I took the plunge and went to my bank to see about qualifying for a loan. credit scores pulled were 620, 636, and 650. I had two derrogatory things on my account. One being as Ive said before an old capital one collection that was scheduled for DOFD last year but apparently never have. I cant pull my free reports again until tomorrow to try and figure out why it never has..I owe 1,700 on that. I also have a 1,900 installment loan out that I pay on time. on myfico report it said it looked bad because it is a place known for giving loans to people with not so great credit. I havent had a late payment on anything for over 6 years. have had the same job for 11 years. Perhaps what is hurting me is that I currently have no credit cards or anything?
So anyway, sorry to ramble. I go to the bank, and they turned me down. Told me to try another specific bank in town. I have an appointment on Monday. After turning me down, I asked if paying these 2 bad things off would make a difference, and the loan officer told me no. How could this be?? Thanks in advance
You should dispute the old collections that shouldve been off.. I recently disputed 3 that were scheduled to fall off in 2008 and 2009 but didnt, and they deleted them within a few days.